玻璃纯碱早报-20250825

Report Information - Report Title: Glass and Soda Ash Morning Report - Date: August 25, 2025 - Research Team: Energy and Chemicals Team of the Research Center Industry Investment Rating - Not provided in the report. Core Viewpoints - Not provided in the report. Summary by Category Glass - Price Changes: From August 15 to August 22, 2025, most glass prices decreased. For example, the price of 5mm large - plate glass at Shahe Safety dropped from 1164.0 to 1143.0, a weekly decrease of 21.0 and a daily decrease of 6.0. FG09 and FG01 contracts also showed weekly decreases, with FG09 down 49.0 and FG01 down 38.0 [2]. - Production and Sales: Shahe's glass production - sales ratio was 76, Hubei's was 130, East China's was 97, and South China's was 103. Shahe factory's production - sales were average, with traders' low - price sales at around 1120 and general shipments. Hubei's factory had better transactions at around 980 [2]. - Profit and Cost: North China's coal - fired glass profit decreased from 231.0 to 217.4, a weekly decrease of 13.7 and a daily decrease of 9.1. The cost increased slightly from 912.0 to 903.6. Natural gas - fired glass in North China and South China showed losses, and the losses of 09FG and 01FG盘面 natural gas profits also changed [2]. Soda Ash - Price Changes: From August 15 to August 22, 2025, some soda ash prices decreased. For example, Shahe's heavy - soda ash price dropped from 1280.0 to 1220.0, a weekly decrease of 60.0 and a daily increase of 10.0. SA05, SA01, and SA09 contracts all showed weekly decreases [2]. - Industry Situation: The heavy - soda ash spot price at the Hebei delivery warehouse was around 1190, and the price delivered to Shahe was around 1220. Both factories and delivery warehouses had a slight inventory build - up [2]. - Profit and Cost: North China's ammonia - soda process profit decreased from - 102.9 to - 156.7, a weekly decrease of 53.8 and a daily increase of 10.0. The North China's combined - soda process profit also decreased [2].